sreeche Started The Discussion:
as i checked in our portal(www.citehr.com) most of them given that the base ceiling for pf ( including admin charges and EDLI charges) was 6500/-.... my problem was with my pf agent he says that i need to calculate the Employer administrative charges @ 1.10% and EDLI admin charges @ 0.05% would be on complete basic .....
I too checked with EPFO web portal they didn't mentioned about any ceiling for admin charges.... plz guide me on this am in confusion.... what i need to take.
thanks for reply....
Emplpyer admin charges on PF is 1.1% of basic wages including DA and cash allowance if any or RS6500 which ever is lower
Again Admin charges of EDLI is 0.01% of BAsic including DA and cash allowance if any or RS6500 which ever is lower
Plz. note that Adm. charges for PF should be on the salary on what contribution of PF of employee has been deducted.
2. Edli @0.5% should be on the salary keeping at the ceiling i.e.6500/- as well adm.chrges for Edli @0.01% also on the same.
For instance ur salary is Rs.10000/- then it will work out like this:
1 A/c. 1. 1200+659=1859
2. 2. = 110
3 10 = 541(on ceiling i.e.on 6500/-)
4. 21 = 33(on ceiling i.e.on 6500/-)
5. 22 = 2(this is minimum limit or on ceiling i.e.on 6500/-)
So, go as per above analogy which is as per rule.
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